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Title: Why should merchants encourage people to pay by bitcoin? Post by: realdos on June 02, 2013, 01:33:12 AM We know that amazon recently launched their amazon coin, which is totally different from bitcoin, as the former is actually some kind of voucher. Amazon encourages people to use amazon coin by giving users a discount of 10%. The reason is obvious as people tends to treat voucher as something different from money (although they buy the voucher with real money), and consequently they are likely to purchase more things by amazon coin than they would by cash.
Similarly, if a merchant price its products by bitcoin, the customers are also likely to buy more, as currently most people still don't connect bitcoin to real money instinctively. So from this perspective it's another advantage for bitcoin. Title: Re: Why should merchants encourage people to pay by bitcoin? Post by: CtrlAltBernanke420 on June 02, 2013, 01:40:47 AM We know that amazon recently launched their amazon coin, which is totally different from bitcoin, as the former is actually some kind of voucher. Amazon encourages people to use amazon coin by giving users a discount of 10%. The reason is obvious as people tends to treat voucher as something different from money (although they buy the voucher with real money), and consequently they are likely to purchase more things by amazon coin than they would by cash. Similarly, if a merchant price its products by bitcoin, the customers are also likely to buy more, as currently most people still don't connect bitcoin to real money instinctively. So from this perspective it's another advantage for bitcoin. People will pay more for things with a credit card. Baseball tickets are the known example. Corporations are now beginning to push their own currencies, there is talk of a C-40 instead of G-20. The wealthiest 40 cities in the world have their own currencies, corporations have their own, the government is watching bitcoin hoping it may be the utopia of monetary policy, as the world could bid it up to 100,000,000/bitcoin in short time making it index worthy. 1 satoshi=$1 If i am wrong, shall we not shoot for 100million/bitcoin? Title: Re: Why should merchants encourage people to pay by bitcoin? Post by: Eastwind on June 02, 2013, 09:47:10 AM Price stability is the key to the success of BTC. The slow increase of value is acceptable.
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